What is the Vietcombank's Tet Holiday Schedule 2025? Does the bank have the responsibility to provide taxpayer transaction information to the tax authorities in Vietnam?

What is the Vietcombank's Tet Holiday Schedule 2025?

Pursuant to Notice 6150/TB-BLDTBXH in 2024 from the Ministry of Labor, Invalids, and Social Affairs implementing the directive from the Prime Minister in Official Dispatch No. 8726/VPCP-KGVX in 2024 from the Government Office of Vietnam, the Lunar New Year 2025 holiday schedule for officials and public employees will be a total of 09 days from January 25, 2025 (26th Lunar December) to February 2, 2025 (5th Lunar New Year).

For workers in enterprises (including banks), the Lunar New Year 2025 holiday can be chosen from one of the following 03 options:

- 01 end-of-year day of the Year of the Dragon and 04 early-year days of the Year of the Snake.

- 02 end-of-year days of the Year of the Dragon and 03 early-year days of the Year of the Snake.

- 03 end-of-year days of the Year of the Dragon and 02 early-year days of the Year of the Snake.

In reality, the Lunar New Year 2025 holiday schedule for banks will depend on the regulations of each bank. However, it is customary that the Tet holiday schedule for banks often coincides with that of officials and public employees. Specifically: from Saturday, January 25, 2025, to the end of Sunday, February 2, 2025, according to the Gregorian calendar.

On January 21, 2025, the Vietcombank Tet Holiday Schedule 2025 will be announced on the official homepage of Vietcombank as follows:

Pursuant to Articles 111 and 112 of the Labor Code No. 45/2019/QH14 passed by the National Assembly on November 20, 2019, effective from January 1, 2021, stipulating weekly rest, holidays, and Tet for officials, public employees, and laborers; Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) respectfully announces the transaction suspension period during the Tet Holiday of the Year of the Snake 2025 as follows:

Transaction suspension period: From January 25, 2025 (Saturday) to the end of February 2, 2025 (Sunday), equivalent to the 26th Lunar December of the Year of the Dragon to the end of the 5th Lunar January of the Year of the Snake

Respectfully notified.

Therefore, the Vietcombank Tet Holiday Schedule will be from January 25, 2025 (Saturday) to the end of February 2, 2025 (Sunday), equivalent to the 26th Lunar December of the Year of the Dragon to the end of the 5th Lunar January of the Year of the Snake.

What is the Vietcombank's Tet Holiday Schedule 2025? (Image from the Internet)

Does the bank have the responsibility to provide taxpayer transaction information to the tax authorities in Vietnam?

According to Clause 2, Article 98 of the Tax Management Law of 2019, the following agencies, organizations, and individuals are responsible for providing information upon request from tax authorities:

Responsibility of related organizations and individuals in providing taxpayer information

...

2. The following agencies, organizations, and individuals are responsible for providing information upon request from tax authorities:

a) Commercial banks provide transaction details via accounts, account balances of taxpayers within 10 working days from the date of receiving the request from the tax authorities;

b) State management agencies on housing, land provide information on the current use status, ownership of houses of organizations, households, business households, individuals, and individual businesses;

c) The police agency provides and exchanges information related to the prevention and combating of crimes related to taxes; provides information on exit, entry, and information on registration, management of vehicles;

d) Organizations and individuals paying income have the responsibility to provide information on income payment and the amount of tax withheld from taxpayers upon request from tax authorities;

dd) State management agencies on commerce are responsible for providing information on policies managing export, import, and transit goods of Vietnam and abroad; market management information.

3. Related Ministries, sectors have the responsibility to provide taxpayer information to tax authorities through online network connections, daily electronic data exchange through the taxpayer information system, or through the national single window portal.

4. Other agencies, organizations, and individuals related to taxpayers are responsible for providing information in writing or electronic data of taxpayers upon request from tax authorities.

5. The Government of Vietnam provides detailed regulations for this Article.

Therefore, the bank has the responsibility to provide taxpayer information to the tax authorities within 10 working days from the date of receiving the request from the tax authorities.

When shall a taxpayer face be imposed the tax enforcement measure of account freezing in Vietnam?

Based on Subsection 1.1, Section 2, Part B of the Debt Enforcement Procedure issued with Decision 1795/QD-TCT in 2022 from the tax authorities, the cases in which a taxpayer is imposed the tax enforcement measure of account freezing are as follows:

- The taxpayer has tax debts exceeding 60 days from the due date of the tax payment as stipulated, and the tax authority has not yet enforced.

- The taxpayer has debts that are extended but the extension is less than 30 days away from ending.

- Organizations guaranteeing tax payments have delayed over 60 days from the due date recorded in the decision for paying tax debts in installments by the tax authority, and the taxpayer or the guaranteeing organization has not paid the full amount into the state budget.

- The taxpayer does not comply with the decision on administrative penalties for tax violations within the time limit stated in the penalty decision.

The department responsible for advising on issuing the administrative penalty decision for tax violations is responsible for providing the administrative penalty decisions to the Debt Enforcement Division on the day the decision is issued (can provide in paper or electronic form).

- The taxpayer is subject to one of the following tax enforcement measures by the tax authorities: Invoice usage suspension; property seizure, auction of seized property; collection of money, other property being held by agencies, organizations, or individuals; or the taxpayer is in the time when the tax authorities have a document requesting the business registration authority to revoke the business registration certificate, but the business registration authority has not yet issued a revocation decision.

- The taxpayer has outstanding tax debts and is involved in asset dispersal or evasion activities.